Firms in China set to increase headcount
THE number of job openings on China’s mainland is expected to rise in the fourth quarter after posting consecutive declines since last October, according to a report released yesterday by Hudson Recruitment Ltd, a global consulting company.
In the survey of 650 companies on the Chinese mainland, the Hudson Report concluded that 39 percent of them plan to increase headcount in the fourth quarter this year – a sharp increase from 27 percent in the last quarter.
More than half of the firms polled signaled that they will keep their payroll steady in the quarter. Only 5 percent of the companies are planning to cut their number of employees, a drop from 12 percent in the third quarter.
“Although the overall hiring expectations are still lower than a year ago, it is a clear sign that the job market is going on an upward trend,” said Mark Carriban, managing director of Hudson Asia.
The study also showed that China reported the highest hiring expectations of the markets surveyed in Asia.
The banking and financial services sector posted the highest expectations of hiring and the greatest increase from the previous quarter. About 54 percent of respondents plan to hire more staff, up from 28 percent in the last quarter.
Expectations have also risen among information technology and telecommunication firms, with 53 percent of the respondents predicting hiring more, representing a substantial jump from 33 percent of the previous quarter.
The media, public relations and advertising companies have the lowest expectations of hiring intention, with 17 percent planning to increase payroll. But only 2 percent say they will shed staff this quarter, down from 17 percent in last quarter, the report said.
The Hudson Report is released quarterly after surveying about 2,000 key employment decision makers.